The Code
of Estimating Practice from the Chartered Institute of Building has been
updated in recognition of how the procedure, practice and process of
construction have changed.
Estimating
is the systematic calculation of projected construction and overhead costs for
a construction project and it is an essential skill for a successful
contractor. It’s a process that the CIOB believes needs to be modernised, made
more reliable and more dynamic.
This
latest edition of the code examines the processes of estimating and pricing,
providing best practice guidelines for those involved in procuring and pricing
construction works. This includes a new approach to estimating which links
production planning, resource requirements, time management and control of
costs.
“Estimating
is at the core of every construction project. If the estimate is wrong,
everybody suffers; the contractor, client, consultants and companies involved
in the supply chain” said author of the publication Professor Roger Flanagan
PPCIOB.
“A new
approach to estimating is necessary to keep the industry relevant and ensure
accurate and reliable pricing is at the heartbeat of construction.”
The
code, long established as a leading publication in the construction industry,
now includes more contextual and educational material alongside the code of
practice, the only code of practice on construction estimating.
This
publication is important reading for construction contractors, specialist
contractors, quantity surveyors/cost consultants and for students of
construction and quantity surveying.
